FOR IMMEDIATE RELEASE                              2001-76



                              
    Commission Staff Issues Legal Bulletin on Rule 14a-8

                              
     Washington, DC, July 26, 2001 -- Today the Securities
and Exchange Commission announced that the Division of
Corporation Finance has published Staff Legal Bulletin No.
14 (CF), which provides guidance on rule 14a-8 under the
Securities Exchange Act of 1934. Rule 14a-8 provides
shareholders with an opportunity to have a proposal included
in a company's proxy materials for presentation to a vote at
an annual or special meeting of shareholders. The rule
creates a procedure through which companies advise the staff
if they intend to exclude a shareholder's proposal and the
staff provides informal views relating to that intention.
The legal bulletin represents the views of the Division of
Corporation Finance. The Commission has neither approved nor
disapproved its content.

     Staff Legal Bulletin No. 14 (CF) is available on the
SEC's Internet site at http://www.sec.gov. For further
information, please contact Jonathan Ingram,
Michael Coco, Lillian Cummins or Keir Gumbs in the Division
of Corporation Finance at (202) 942-2900.


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